allegiant bucking the trend.

Perhaps all is not lost right now on the Vegas tourism industry. From the Las Vegas Review Journal:

Allegiant revenue jumps despite financial downturns
By Benjamin Spillman

Las Vegas-based Allegiant Travel Company managed to increase revenue more than 35 percent in the third quarter despite operating a leisure-based airline at a time when the hospitality and airline industries are suffering from dramatic financial downturns.

Allegiant reported today that it earned $116.9 million in the third quarter, up 35.4 percent from the same quarter in 2007. However, profits on the revenue fell 4.2 percentage points to 6.9 percent, in large part because fuel costs were higher.

During a conference call with analysts company officials were upbeat despite dire predictions for leisure travel. They said lower fuel prices will give the airline more flexibility in the future and discussed several possibilities for increasing revenue further, including the potential to charge passengers for carry-on luggage. Read more.

I've always liked their model of providing direct flights to destination cities for secondary markets. I've also flown them a couple times. The first time was not that great, but the second time was very good. I'd fly them again.